Correlation analysis
| ESG | BCD | BGD | Interaction | BoardSize | ROE | LEV | LogTA | LogSales | Price | |
|---|---|---|---|---|---|---|---|---|---|---|
| ESG | 1.000 | |||||||||
| BCD | 0.2584** | 1.000 | ||||||||
| BGD | 0.3403*** | −0.0544 | 1.000 | |||||||
| Interaction | 0.3157** | 0.8563*** | 0.3495*** | 1.000 | ||||||
| BoardSize | 0.4435*** | −0.0328 | −0.0832 | −0.0712 | 1.000 | |||||
| ROE | −0.1829* | 0.0165 | −0.1314 | −0.0327 | −0.2893** | 1.000 | ||||
| LEV | −0.1534 | −0.0439 | 0.3307*** | 0.0956 | −0.1477 | 0.0586 | 1.000 | |||
| LogTA | 0.5670*** | 0.1461 | 0.0590 | 0.1522 | 0.5483 | −0.2521 | 0.0037 | 1.000 | ||
| LogSales | 0.6602*** | 0.0624 | 0.1955 | 0.1257 | 0.4957*** | −0.0048 | 0.0758 | 0.7039*** | 1.000 | |
| Price | −0.2610** | −0.0801 | −0.0878 | −0.0901 | −0.0580 | 0.0002 | 0.0321 | 0.1150 | −0.2062** | 1.000 |
| ESG | BCD | BGD | Interaction | BoardSize | ROE | LEV | LogTA | LogSales | Price | |
|---|---|---|---|---|---|---|---|---|---|---|
| ESG | 1.000 | |||||||||
| BCD | 0.2584 | 1.000 | ||||||||
| BGD | 0.3403 | −0.0544 | 1.000 | |||||||
| Interaction | 0.3157 | 0.8563 | 0.3495 | 1.000 | ||||||
| BoardSize | 0.4435 | −0.0328 | −0.0832 | −0.0712 | 1.000 | |||||
| ROE | −0.1829 | 0.0165 | −0.1314 | −0.0327 | −0.2893 | 1.000 | ||||
| LEV | −0.1534 | −0.0439 | 0.3307 | 0.0956 | −0.1477 | 0.0586 | 1.000 | |||
| LogTA | 0.5670 | 0.1461 | 0.0590 | 0.1522 | 0.5483 | −0.2521 | 0.0037 | 1.000 | ||
| LogSales | 0.6602 | 0.0624 | 0.1955 | 0.1257 | 0.4957 | −0.0048 | 0.0758 | 0.7039 | 1.000 | |
| Price | −0.2610 | −0.0801 | −0.0878 | −0.0901 | −0.0580 | 0.0002 | 0.0321 | 0.1150 | −0.2062 | 1.000 |
*Significance at 10%; **significance at 5% and ***significance at 1%
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